When you are earning a regular salary it’s easy to lose track of the monthly expenses that pile up — especially if you have everything on automatic payment. But if you are serious about being financially responsible, you will have to take another careful look at your monthly expenses and decide which of them you can do without; and in modern society, there is always something we can do without. To help you get started, here are some suggestions. Cell Phone While it may not be practical to do away with the cell phone altogether, you can be more prudent in what sort of bill you are paying. If you’re paying over $100 per month for your Smartphone, then consider the features that come with your plan and decide if you really need them. It’s always good to go for plans with no contracts. Also, how much data do you…

Financial responsibility is an ideal that everyone wants to achieve, and there are many ways to go about it. But people can also engage in practices in the mistaken belief that they are being financially responsible. What some people might see as an asset is really just an expensive luxury, and what some people call investments are really unnecessary expenses. Being financially responsible involves knowing the difference between these things and making smart choices. Here are some of things you should not mistake for being financially responsible. Buying a Car For many people, a car is an important symbol of their financial independence. But while a car might be an important status symbol, it doesn’t say anything about the true state of your finances — let alone, if you are in fact financially responsible. Car maintenance can be expensive, so you have to decide if it’s really worth it. Is…

If you’ve ever wondered what the secret is to financial success, you’re not alone. The good news is that it’s not a secret once you understand the habits and behaviours of financially successful people. You can start adopting these habits and behaviours for yourself today. You won’t become wealthy overnight, but with time, you will certainly begin to see the results. Clear Goal-Setting Financially successful people have clear goals in their minds. This is not the same as wishful thinking or even desire; it is a clear goal that must be achieved at some point in the future. Very often this primary goal is preceded by the accomplishment of lesser but related goals, hence why successful people often have short, medium and long-term goals in mind. Frugal Living Financially successful people do not live above their means; they live within their means and work to slowly expand them. This also…

Most people borrow money at some point in their lives. It could be a small loan or a large mortgage, borrowing money is part of modern life. But many people are intimidated by the prospect of borrowing, and as a result they buy into the myths that often circulate about borrowing. Borrowing money doesn’t have to be a bad thing; in fact, it can give you a lot of flexibility and provide opportunities that would otherwise be closed to you. If you want to be smart about borrowing money, then you should be aware of these myths and stop believing in them. Credit Cards Are Bad Many households are saddled with credit card debt, and the interest rates can get really high. This causes many people to mistrust credit card loans, believing that you should stay away from them altogether. If you use credit cards responsibly, you can actually raise…

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